Some Credit Cards Don’t Fall Under the CARD Act of 2009Not Every Card Is Covered by Landmark Federal Law

Some Credit Cards Don’t Fall Under the CARD Act of 2009

Posted: October 22, 2013 by Rachel Shepard

In 2009, Congress passed the CARD Act (officially known as the Credit Card Accountability Responsibility and Disclosure Act of 2009) to protect consumers against excessive interest rates, fees and miscellaneous charges. The act prohibits credit card issuers from initiating fee traps, excessive interest rate hikes on existing balances that create consumer default or retroactive late fees. It also mandates that issuers provides a written account of all rates, fees and charges in plain, simple language that is visible to consumers, as well as guards against excessive marketing of credit cards to young people and students.

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Don’t Get Scammed by a Bad Credit LoanLearn How to Distinguish Financial Predators From Legit Lenders and Loan Companies

Don’t Get Scammed by a Bad Credit Loan

Posted: October 11, 2013 by Rachel Shepard

Like many people these days, you may be trying hard to do the right thing and pay your bills, but find that you are struggling and your debt load keeps growing. You know that one missed payment will bring your house of cards crashing down and you don’t want that. In conjunction with this, perhaps you have noticed various offers for bad credit loans out there and thought to yourself, this could be a way out.

Be careful, though. In these economic times, financial predators are lurking around every corner and they want your hard-earned cash. The trick is learning how to distinguish scam operators from legitimate bad credit loan companies and lenders.

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5 Things That Can Prevent You From Owning a HomeYour Dreams Can Be Dashed by These Obstacles

5 Things That Can Prevent You From Owning a Home

Posted: September 30, 2013 by Rachel Shepard

If you’re in the market to buy a home, you’ve probably already started looking around, and you may have even found the home that you believe is the one you’re meant to buy. But what if some unforeseen surprises spring up, surprises that stop your home purchase deal in its tracks? What can possibly go wrong when trying to purchase a home? The following are five things that can possibly keep you from realizing your dream of home ownership:

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Negotiating With Creditors: Do It EffectivelyFollow Some Simple Tips to Achieve Top Results

Negotiating With Creditors: Do It Effectively

Posted: September 17, 2013 by Rachel Shepard

Negotiating your debt on your own is possible, but there are some basic rules you should follow for best results and to minimize the chances of your getting disorganized or even confused and frustrated during the process. If you are ready to contact your creditors or any collection agencies currently holding accounts of yours, take a look at a few helpful tips first.

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Credit Card Scams and Gimmicks to AvoidBeware of Too-Good-to-Be-True Offers

Credit Card Scams and Gimmicks to Avoid

Posted: September 6, 2013 by Rachel Shepard

With credit card issuers loosening their requirements for cardholders once again, consumers now have a number of choices available to them. At the same time, these issuers are offering a variety of gimmicky cards to attract people to their products. The problem is that many of these offers end up being scams, since with them you end up paying much more than you had envisioned. Before signing up for one of these special offers, make sure that you are aware of what it will cost you.

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Secrets to Saving MoneyThere Are Many Easy, Effective Ways for You to Cut Costs

Secrets to Saving Money

Posted: August 26, 2013 by Rachel Shepard

If you are looking for ways to make your money go further, you are not alone. No matter how much money you make, it is always a good idea to do things as inexpensively as possible, as you never know what can happen in the future. Many successful people were completely caught off guard when the recent financial collapse occurred and want to avoid losing everything again. Thankfully, there are a number of easy and effective ways you can save money every month, and as long as you are committed to maintaining a budget, you can use these methods to build up a nice bit of security for yourself.

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Scam Alert: Scams of the Month for August 2013A Sampling of the Many Current Fraudulent Schemes to Watch Out for

Scam Alert: Scams of the Month for August 2013

Posted: August 23, 2013 by Rachel Shepard

Many consumers take care to avoid any information concerning scams because it makes them uneasy. This isn’t wise, though, because the more you know, the safer you’ll be when scammers try to pull one over on you. Find here some basic details on the latest scams for August 2013 — and there are many — and use this information to protect yourself.

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5 Easy Ways to Rebuild Your Credit After BankruptcyRestoring Your Financial Health Is Possible

5 Easy Ways to Rebuild Your Credit After Bankruptcy

Posted: August 13, 2013 by Rachel Shepard

After filing bankruptcy, one of your main concerns should be repairing your credit. For some consumers, a bankruptcy filing can lead to a sense of hopelessness that can be difficult to escape. Once you come up with a firm credit repair plan, however, you can confidently begin the road back towards financial health. And with this type of plan, you do not have to wait too long to begin applying for credit again provided you take the necessary steps.

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5 Ways to Protect Yourself From Online ScamsAvoid the Treacherous Traps Set by Internet Fraudsters

5 Ways to Protect Yourself From Online Scams

Posted: August 2, 2013 by Rachel Shepard

The Internet has brought the global marketplace right to our fingertips, making it easier than ever to purchase goods and services, do our personal banking, and donate money. Along with this technological convenience, however, also comes the dangers of getting scammed online. Providing unsecured websites with your personal information can put you at risk of being taken advantage of and having your money and even your identity stolen quickly and easily.

Before you provide your personal information online, you need to be very aware of the dangers of online scams and make sure that whatever site you are doing business with is reputable and can be verified. The following are five ways to protect yourself from online scams:

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Tips for Paying a Bad Credit Loan Off — on TimeOn-Schedule Repayment Is Critical for the Sake of Your Credit

Tips for Paying a Bad Credit Loan Off — on Time

Posted: July 22, 2013 by Rachel Shepard

In the current economic climate more and more people are being affected by growing debts. Many of these individuals are experiencing difficulty paying off these debts, and this unfortunately is making a bad situation worse, with penalties and fees only adding to the amount owed and consumers seeing their credit rating, which often is already somewhat low, take a hard hit.

For some people, a bad credit loan is among the debts they see piling up, and this is problematic. It is important to remember that the point of a bad credit loan ultimately is not only to provide you with much-needed money when you have poor credit and few other financial options, but also to help you improve your credit. Therefore, if you have taken out this type of loan, it is critical that you pay it off on time for your credit’s sake, as well to avoid any extra charges that may come with late payment. Thankfully, there are a few simple tips for paying a bad credit loan off in a timely fashion.

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Scam Alert: Jamaican Phone ScamBeware of Unexpected Calls From the Caribbean

Scam Alert: Jamaican Phone Scam

Posted: July 11, 2013 by Rachel Shepard

With so many scammers around the world, it can be difficult to keep track of them all in an effort to avoid becoming their victim. Luckily, organizations such as the Better Business Bureau (BBB) are hard at work to provide everyone up-to-date information on the latest scams out there. As evidence of this, recently the BBB reported that the notorious, long-running Jamaican Phone Scam has changed a bit. Consumers need to know what to look for with this particular fraudulent scheme so they won’t end up falling prey to it.

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5 Ways to Save on Your MortgageHold Onto More of Your Money Over the Long Term

5 Ways to Save on Your Mortgage

Posted: July 9, 2013 by Rachel Shepard

Buying real estate has always been one of the best ways to invest your money and build wealth and equity. However, along with home ownership frequently comes hefty mortgage payments that need to be made each and every month. A mortgage is often the biggest debt that a consumer will have in their lifetime. The good news is that there are ways to actually save money over the term of your mortgage. Here are five ways you can do just that:

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Identity Theft: How to Fix This, QuicklyYou Need to Act Fast If Your Personal Information Is Compromised

Identity Theft: How to Fix This, Quickly

Posted: June 28, 2013 by Rachel Shepard

Identity theft can be emotionally and financially devastating, and it can take quite a bit of time to sort through everything once you are a victim of this crime. To prevent as much damage from happening as you can, there are steps you need to take immediately if you feel that your identity has been compromised. If you follow these steps as soon as you learn about what has occurred, this will make it easier to correct the situation and deal with your bank.

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How Much Will a Bad Credit Score Cost You?With Poor Credit, You Could End Up Paying for Your Past Mistakes

How Much Will a Bad Credit Score Cost You?

Posted: June 17, 2013 by Rachel Shepard

If you have bad credit, you have probably already noticed how difficult it makes it to acquire a loan from your average lender. Many lenders do not want anything to do with you unless your credit score reaches a certain level, and even then, you could end up paying high loan interest rates. The truth of the matter is that having bad credit can cost you hundreds of thousands of dollars in additional interest payments over the course of your life, which makes the effort it takes to improve your credit rating well worth it.

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Credit Inquiries: The Difference Between Hard and Soft InquiriesNot All Credit Checks Are Created Equal

Credit Inquiries: The Difference Between Hard and Soft Inquiries

Posted: June 4, 2013 by Rachel Shepard

Many consumers understand that if multiple inquiries about their credit are made to the major credit reporting bureaus, that can have a negative impact on their credit rating. What many people are not aware of, however, is the fact that there are different types of credit inquiries. One type is not likely to produce an ill effect in terms of lowering an individual’s credit score, while frequent inquiries of a different type could trigger a temporary decline in the credit rating.

Because of the potential impact that a credit inquiry can have on you, before you apply for any type of credit account, it pays for you to know whether the account issuer will initiate a hard or a soft credit inquiry.

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When Is the Right Time to Get a Mortgage Loan?There Are Many Things to Consider Before You Borrow

When Is the Right Time to Get a Mortgage Loan?

Posted: April 30, 2013 by Rachel Shepard

Applying for a mortgage loan is an important decision in a person’s life and is not something that should be taken lightly. Before you apply for a mortgage, make sure that you can afford the monthly payments. While your lender will look at your financial situation to help them decide whether or not they believe that you can afford a mortgage, only you know about your spending habits and the stability of your current job. Unless you are in a stable financial situation, you should wait before applying for a mortgage loan to avoid possible complications.

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Scam Alert: Bogus Medical Alert SystemsCon Artists Target the Elderly

Scam Alert: Bogus Medical Alert Systems

Posted: April 22, 2013 by Rachel Shepard

They say that there is no honor among thieves, and a new scam making the rounds perfectly demonstrates this. It involves con artists utilizing deception, threats and intimidation tactics to persuade elderly individuals to purchase medical alert systems that they neither have requested nor want, all in an effort to bilk them out of untold amounts of money.

Recently, the Federal Trade Commission, with the help of a U.S district court, was able to shut down one specific criminal operation called Instant Response Systems that was practicing this scam, but other similar operations are undoubtedly still active.

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5 Things That Maintain a Good Credit ScorePreserving Your Credit Is Easier Than You Think

5 Things That Maintain a Good Credit Score

Posted: April 19, 2013 by Rachel Shepard

There are many things a consumer can do to help them maintain a good credit score. Here are five simple steps to keeping your credit in tip-top shape:

1. Know what a credit score entails.

Knowing how a credit score is calculated is key. Your credit score is calculated based on five different things: your loan and credit card payment history; your level of debt; your credit age, or how long you’ve had credit; the types of credit you have, which should be a mix of credit cards and loans; and recent credit. Knowing where you stand with regards to all five of those areas will help you understand how good or bad your credit score is.

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Why It’s Easier to Get a Car Loan With Bad CreditThere Are Lenders Who Will Help You Purchase Your Dream Automobile

Why It’s Easier to Get a Car Loan With Bad Credit

Posted: April 8, 2013 by Rachel Shepard

Contrary to popular belief, getting a car loan is easy, and in some cases can be especially easy for people with bad credit. This type of loan allows consumers to pay their vehicle off in monthly installments instead of having to completely pay for it up front. For most people, a car loan is extremely welcome since paying cash to buy a new car is not a possibility.

With a car loan, the financing company or bank gives you the money to purchase a vehicle for personal use. The loan is secured against your new automobile. Car loans are also referred to as consumer loans or secured car loans.

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Steps to Getting a Home LoanObtain the Money You Need to Buy the House You Want

Steps to Getting a Home Loan

Posted: March 26, 2013 by Rachel Shepard

Buying a house is a major investment, and with the high cost of homes around the country, it usually represents a major outlay of money for a consumer. Therefore, it should come as no surprise that, according to recent statistics, nine out of 10 homebuyers finance their purchase with a mortgage loan.

If you are a prospective homebuyer and are considering applying for a mortgage loan, there are a number of things you need to know before you begin the application process. You can learn about them here.

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Phishing Scam Alert: Twitter Direct MessagesA New Method of Hijacking Your Personal Information

Phishing Scam Alert: Twitter Direct Messages

Posted: March 22, 2013 by Rachel Shepard

Social media website Twitter is everywhere these days and used by millions of people around the world. Now, in an effort to take advantage of this situation, online criminals have rolled out a new scam, which originates from what is designed to look like a legitimate Twitter account.

With this scam, consumers are generally contacted by email from a bogus Twitter account. The email subject line will say something like “Have you seen this picture of you?” The recipients are invited to click on a link to the image, and once they do that, they are usually taken to a website to “verify the authenticity of the picture.” That’s when the pain starts.

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Credit Bureaus: Understand How They Affect YouThese Agencies Can Profoundly Impact Your Financial Standing

Credit Bureaus: Understand How They Affect You

Posted: March 15, 2013 by Rachel Shepard

Credit bureaus are agencies that research and collect consumers’ credit information. In the United States there are three primary credit reporting agencies: Experian, Equifax and TransUnion. Utilizing standard computations, these agencies collect information and tabulate it in a numerical equation that results in an individual’s credit score. It is important for you to understand not only what credit bureaus collect but also how these reporting agencies can personally impact you.

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Why It’s Important for Your Credit to Pay Back Your LoanRepaying What You Borrow Is Critical to Maintaining Your Credit Rating

Why It’s Important for Your Credit to Pay Back Your Loan

Posted: March 4, 2013 by Rachel Shepard

Many reasons to apply for a loan exist, with the main one probably being that having this additional money simply allows you to make major purchases without saving up beforehand. Of course, loans eventually need to be paid back, and they generally come with predetermined repayment terms to which you must adhere. Failure to repay this money within the agreed-upon timeframe could lead to financial problems for you in the future. Therefore, it is vital that you work hard to stick to these repayment terms the next time that you take out a loan.

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Government-Job ScamsHow to Spot Schemes Offering to Help You Obtain Federal Positions

Government-Job Scams

Posted: February 22, 2013 by Rachel Shepard

As a species, scammers are a nefarious lot. They prey on the unsuspecting and they deviously separate money from those in need. One of the latest schemes that scammers are engaging in involves them offering to assist job searchers in obtaining positions with federal government agencies such as the U.S. Postal Service.

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Why Bad Credit Doesn’t Mean You Can’t Get a LoanThere Are Options Out There for You

Why Bad Credit Doesn’t Mean You Can’t Get a Loan

Posted: February 20, 2013 by Rachel Shepard

Although having bad credit is never seen as a positive thing, it does not mean that you will be denied every loan for which you apply. There are plenty of options for those with bad credit, as long as you know where to look. Before you get discouraged about the state of your credit rating, research these loan options and find out which types of lenders are more likely to grant you the money that you need.

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Consolidating Your Student LoansYou Can Lighten Your Debt Load After Graduation

Consolidating Your Student Loans

Posted: February 8, 2013 by Rachel Shepard

Student loans are considered the next “bubble” the American economy will have to grapple with. As tuition costs continue to climb, the amount of debt that graduating postsecondary students carry is also booming. Recent graduates are emerging with an average loan debt of $27,000. With a difficult job market and heavy average debt load, it makes sense for graduates to consider student loan consolidation as an option. Consolidating student loans is not as simple as it seems, however, as there are rules governing the behavior of these loans.

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Five Ways to Show Your Valentine You Love Them — on a BudgetYou Don’t Have to Break the Bank to Have a Memorable Holiday

Five Ways to Show Your Valentine You Love Them — on a Budget

Posted: January 28, 2013 by Rachel Shepard

Valentine’s Day is a wonderful opportunity for you to express some heartfelt sentiment to that special someone. And fortunately, despite what some people may think, showing your Valentine love does not require you to bust your budget. Furthermore, not only is it possible to successfully celebrate the holiday without wreaking havoc on your finances, but the truly amazing memories that you can create without spending a lot of money can last a lifetime.

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Beyond Banks: Other Places Your Credit MattersA Good Credit Score Can Be the Key to Your Success in Many Arenas

Beyond Banks: Other Places Your Credit Matters

Posted: January 15, 2013 by Rachel Shepard

Your credit score is a seemingly ethereal number that you likely only think of when you are considering acquiring a credit card or loan. Consumers rarely give much thought to their credit score beyond this sort of scenario. What many people do not understand, however, is how vital maintaining a good credit score is for overall financial health and who considers credit scores beyond financial companies. The fact is, there are many different entities that may look at your credit score, and having a good score can potentially save you quite a bit of money all around.

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How to Get a Personal Loan Despite Bad CreditPast Mistakes Don't Have to Keep You From Getting Cash Today

How to Get a Personal Loan Despite Bad Credit

Posted: January 4, 2013 by Rachel Shepard

If you have any awareness of pirate movies then you know that being marked with the black spot is akin to a death sentence or, at the very least, leads to a really lonely time on a deserted island. Bad credit can work much like the aforementioned black mark when lenders and financial institutions, government agencies, and even mobile phone companies and landlords review and evaluate your credit.

If your credit is bleak at best and you find yourself in a dire situation where you absolutely have to have a personal loan, however, don’t worry. Hope is not completely lost and you have a few options.

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Winter Expenses: Getting a Quick Loan for the SeasonHelp Is Available for the Holidays

Winter Expenses: Getting a Quick Loan for the Season

Posted: December 26, 2012 by Rachel Shepard

The holiday season can be extremely expensive, especially if you have a large family for which to buy presents. As a result, the holidays can be overwhelming for some people as they attempt to come up with enough money to pay for everything that they need. If you find yourself lacking the money needed to come through for your family, a loan to help you out with winter expenses might be your best option. Before applying for a loan, however, you should look at the various types of loans available to select the one that provides you with the most benefits.

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How Your Credit Score Is CalculatedKnowing the Process Can Help You Boost Your Credit Rating

How Your Credit Score Is Calculated

Posted: December 14, 2012 by Rachel Shepard

These days, having a good credit score is key to gaining access to all kinds of things. Because of this, of course, it behooves you to do whatever you can to get your score up as high as possible. And learning exactly how a credit score is calculated is important if you want to know what you have to do to boost your score and open all sorts of new doors for you as a consumer.

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Credit Diversity: How Much Does It Really Matter?Mixing It Up Can Have a Major Effect on Your Credit Rating

Credit Diversity: How Much Does It Really Matter?

Posted: December 3, 2012 by Rachel Shepard

Credit diversity. What is it? Does it really matter? I know, you’re probably thinking, “Credit is credit … right?” The truth, however, is a little more complicated than that. There are actually many different types of credit, and in order to have a higher credit score and get lower interest rates on loans, you need to have a variety of forms of credit in your portfolio.

You hear some people warn against having too many lines of credit. While it’s true that being in this situation can be bad if you aren’t paying your various credit lines off or if you are making late payments (or not making payments at all), the fact is, having a few different types of credit can really help out your credit score in the long run, especially when you’re ready to purchase big-ticket items such as a new vehicle or a home.

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Small Budget Changes to Help You Organize Your FinancesThe Time Is Now to Take Control of Your Money!

Small Budget Changes to Help You Organize Your Finances

Posted: November 26, 2012 by Rachel Shepard

It stands to reason that small changes in your lifestyle can lead to greater rewards. Think about the impact of a small gesture. Saying hello politely to someone can open the door to a healthier, happier day. Now, say hello to your finances in the same way and see what kind of happiness you can lovingly squeeze from your dollars!

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Wire Transfer ScamsWhere Are You Sending Your Money?

Wire Transfer Scams

Posted: August 7, 2012 by Rachel Shepard

How nice is it to enjoy a little TV after a delicious dinner and a hard day’s work? Now imagine you receive an unexpected phone call during the commercial break. It’s from a number you don’t recognize, but you answer it anyway. Someone on the other end begins accusing you of reneging on debts, or tells you a sob story about someone in your family needing money immediately, or informs you that they can provide you with just the help you’ve been looking for if you’ll just provide a small processing fee.

Whatever the line may be, the result tends to be the same: You need to send us money right now if you want to be OK.

What would you do? For many unfortunate victims of wire transfer scams, they send the money. It’s difficult to deal with the sudden pressure, and often aggressive manner, of a surprise caller. You end up trying to solve the problem just to get out of trouble…when you should really ask yourself if the phone call itself is what’s wrong.

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Scam Alert: BBB Email ImpostersJust Because an Email Says It Is From a Reputable Source Does Not Make It True

Scam Alert: BBB Email Imposters

Posted: August 3, 2012 by Rachel Shepard

The Better Business Bureau is one of he most trusted consumer groups in the country. When you are in doubt over the reputation of a company anywhere in America, they are one of the easiest places to find out the truth. Unfortunately, that same reputation has led to scam artists actually posing as the BBB.

According to the BBB alert, multiple complaints have been filed over emails sent to a variety of people, including even the BBB itself. These emails have been reported in two forms: one as a follow up to a complaint, the other as a request to update user information using an online form.

In both emails a link appearing to go to a BBB page. However, by hovering the cursor over the hypertext, the actual URL is not the BBB at all, but rather a site containing a virus.

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Scam Alert: Phone, Loan and Wire Transfer Scam in IowaIowa Woman Nearly Scammed for Hundreds

Posted: July 27, 2012 by Rachel Shepard

On the border of Iowa and Illinois is the town of Muscatine. A woman in town recently reported a frightening experience in which she narrowly avoided being scammed for hundreds of dollars. Here is the story:

One morning in mid-July, April Garcia received a phone call from an unknown caller. The caller informed her that she was eligible to receive a payday loan of $3,300.

Garcia could not recall having ever applied for the loan.

According to the caller, it would be disbursed to her in monthly installments of $330 a month for the following 12 months.

All she needed to do was wire them $330 for “insurance.”

Garcia was strung along enough to actually wire money to the company. However, when she noticed that the money was being sent to an address in India, she realized she was being duped.

Luckily for Garcia, she had not yet informed the scammers that the money had been sent, allowing her to claim fraud on the transfer and have her money refunded.

Garcia’s case is a fortunate one; most people are unable to see the scam for what it is until it is already too late.

There are a few moments when an informed consumer in Garcia’s situation could have halted the scam before they could be victimized.

  1. The unsolicited phone call: If you are ever offered something over the phone without having opted in, you should be somewhat suspicious.
  2. Approval for a loan or offer that was never applied for: This should be an immediate red flag.
  3. Requiring you to wire money: Never wire funds to any party that you may not know.

In the event that you are contacted by a company similar to the one that contacted April Garcia, you should attempt to find out the name of the caller, who they work for, the address of the business, and any other contact information you can get. You can then relay this information to the Better Business Bureau, the Consumer Financial Protection Bureau and local law enforcement.

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Loan Scam Alert: High-Pressure Phone CallsKeep Your Composure, Keep Your Cash

Loan Scam Alert: High-Pressure Phone Calls

Posted: July 18, 2012 by Rachel Shepard

There have been a spate of reports recently concerning unsolicited phone calls from people claiming to be collecting on a debt. The scammers attempt to scare, pressure, and threaten their victims into making payments on debts they don’t owe or giving away confidential personal information, which can lead to identity theft.

Those contacted by the crooks have been told that they owe some debt that must be paid immediately. The high-pressure situation is made worse when the scammer threatens to “press charges” unless the money is wired quickly; i.e., before the victim can think over the situation.

It is a scary scenario to imagine: After finishing dinner, you ease into your sofa for a bit of television before bed when the phone rings. On the other end is a stranger using obscene language to inform you that you are about to be arrested for not paying back a loan you can’t even remember taking out.

What should you do?

First off: Relax. Getting stressed out and making fast decisions is exactly what scam artists want you to do. Get the contact information of the caller, including whom they work for and the exact details of the amount you are purported to owe. Tell them you will consult your records and call them back.

Next try checking their claims. This means consulting your records to ensure you don’t owe them any money from unpaid loans or whatever they are claiming. Next, do some research on the business they work for. Check BBB.org to see if there are any complaints about them. If it appears they aren’t a legitimate business or if they are trying to make you pay something you don’t owe, you should contact the Better Business Bureau, the Federal Trade Commission and local law enforcement.

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Debt Collection Scam Alert: Central Asset BureauBe Wary of Calls From This Company

Posted: July 13, 2012 by Rachel Shepard

A debt collection company based in San Antonio, Texas, has been causing trouble with numerous people in the state. Consumers have reported that they have received phone calls from representatives of the company who claim to be collecting on past debts.

In many cases the debt the company says is owed is nonexistent. However, that has not stopped Central Asset Bureau  from phoning numerous family and friends, workplaces, and other contacts of consumers in order to smear their reputation through erroneous claims.

According to complainants, Central Asset Bureau has given fake addresses to its location and even refused to provide written documentation of the outstanding debts. Both of these actions are illegal under the Fair Debt Collection Practices Act.

Stay Safe

The behavior of Central Asset Bureau is common in debt collection scams. The actions are all expressly prohibited by the FDCPA. If you are contacted by Central Asset Bureau, or any other debt collector, you should exercise your rights to ensure they are legitimate and legal.

You have a right, as protected by federal law, to:

  • Receive written documentation of the exact debt owed.
  • Receive valid contact information of the party to which your debt is owed

Furthermore, under the Fair Debt Collection Practices Act, debt collectors may not:

  • Contact you before 8 a.m. or after 9 p.m. local time
  • Continue to contact you after they receive written notice to stop
  • Harass you through aggressive, abusive, or obscene language and false threats of lawsuits
  • Reveal debt to anyone other than your spouse or attorney

If you feel that a debt collector has done any of these things, you should contact the Federal Trade Commission, Consumer Financial Protection Bureau, Better Business Bureau, and local authorities in order to file a complaint or even press charges.

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Learn How to Recognize Debt Collection ScamsDon't Let Criminals Trick You

Learn How to Recognize Debt Collection Scams

Posted: July 6, 2012 by Rachel Shepard

Hopefully, you are not one of the thousands of Americans who have been victimized by scam artists posing at debt collectors. These criminals have been known to hound completely innocent people into giving away hundreds, or even thousands, of their hard-earned dollars. With just a few tips, though, you can spot a debt collection scam and protect yourself in the future.

A debt collection scam often occurs when a company, or an individual claiming to represent a company, contacts a person in order to collect on a debt that doesn’t exist. Through scare tactics, aggressive behavior, and confusion, victims are coerced into giving out money.

How would a criminal even find out about your information? Unfortunately, learning a person’s email, phone number, and even bank account or social security number may not be as difficult as you may think. That’s why, even if presented with this information by someone, you should not be willing to trust them.

Here are a few ways to find out if you are being contacted by an authentic debt collector or someone trying to rip you off:

The Federal Debt Collection Practices Act: This is a law meant to protect consumers from debt collection scam artists and legitimate debt collectors using illegal methods to collect on debts. It is because of this law that you will be able to quickly determine of a debt collector is real or not.

If you receive a phone call from someone attempting to collect on a debt:

  1. Require complete identification: Who they are, their company, their phone number and address. Try and contact them there and ask if the person you talked to works for them. Some scams may involve imposters posing as representatives of real companies. Others may say they work for a real-sounding company that doesn’t actually exist. If anyone refuses to give you this information, you can be sure they are not a real, law-abiding debt collector.
  2. Require your debts in writing: This is required by the FDCPA. If anyone refuses, they are not a real debt collector.
  3. Check the business on consumer advocacy sites: Most business can be found on the Better Business Bureau website. Try searching for them to find if there are any alerts currently attached to that business.

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Looking for a Summer Job? Be Careful!Job Scams Can Actually End With You Paying Them for Your Work

Posted: June 22, 2012 by Rachel Shepard

With high school and college finished for the year, many students are looking to make an extra buck during vacation. This can be a character, and wallet, building experience, but can also put young workers in a vulnerable position. Situations involving identity theft and the tricking people into paying money are all too common.

Employment scams can occur when jobs, like selling door-to-door for example, ask you for certain payments prior to you starting a job. This can be known as an “advance-fee scam.” While there may some costs for training and other materials, when confronted with this prospect, be sure that the company is reputable first. You can check on their standing with the Better Business Bureau or search the company name online to see if it is associated with any consumer complaints.

Since applying for a job involves divulging your personal information, such as your social security number, contact info, and even bank account numbers, identity theft can be a very real threat. Here are some questions to ask yourself before giving out your personal info that can help you identify illicit employers:

  • Was this job offer unsolicited?
  • Does it not require an application or interview?
  • Is the employer refusing to give you details about their business?

If you answered “yes” to any of these questions, you should probably look elsewhere for a job.

Finally, here are a few more red flags: If you can’t find any references for a company’s reputation, if they want you invest in the business or buy costly equipment, if their contact info doesn’t seem quite right, and finally, if the offer is too good to be true. If the pay seems outlandish for the job offer, you should proceed with extreme caution.

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Hello to Our ReadersIt's a New Day!

Hello to Our Readers

Posted: June 19, 2012 by Rachel Shepard

As the inaugural post of our new blog: Welcome! We want to keep all the users of our site updated on the many goings on with our company. From exciting local events in and around our Seattle HQ to the latest on the payday lending industry nationwide, you can always expect to leave our blog a little more informed.

The big news today concerns the brand new redesign of our site. You can find all sorts of great features that have been added to help you get any bad credit loan you need. Our simple online form speeds up the process while our security features and network of lenders keeps you safe online. On top of that, the new design is not only aesthetically more pleasing, but helps make the loan process faster and more intuitive.

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